Independent professional services company, Turner & Townsend, posts seventh year of successive growth, with turnover of £491mn for the year ending April 30, 2017, an increase from £409mn for the previous year.
The global business, which works on some of the worlds largest capital projects and programmes across the real estate, infrastructure, and natural resources sectors and employs nearly 4,700 people in 104 offices, has delivered profit after tax of £36.2mn, a rise of 22% from £29.6mn.
The companys Middle East business delivered a good performance over the last twelve months, resulting in a 42% increase in revenue to £45.6mn and 24% increase in profit.
Key projects within real estate include working with retail and leisure destination, Galleries Lafayette in Doha and Atlantis, The Palm, in Dubai. Infrastructure remains a significant focus in the region as projects including the expansion of Al Maktoum International Airport in Dubai are brought forward.
Turner & Townsends strong growth has been achieved against the backdrop of volatile global market conditions, thanks to the companys investment in its long-term capability and diversified business model across 44 global markets. Key regions to see significant growth beyond the Middle East include the UK and Ireland and North America, where revenue increased to £212.5mn and £71.6mn respectively.
Across its sectors, Turner & Townsend delivered strong growth in global real estate (revenue up 21% to £237mn) and infrastructure (revenue up 26% to £155mn), with natural resources revenue reaching £53mn in a tough trading environment where investment in major projects remains low.
During the year, the business has continued to invest in its capability by joining forces with asset management company, AMCL, to strengthen its lifecycle asset management offer, in addition to acquiring lean construction specialist, Suiko, and US West Coast firm, Trestle.
Throughout 2017, Turner & Townsend has maintained and strengthened its commitment to act sustainably and make a positive global impact. This has included joining the United Nations Global Compact to align the business corporate social responsibility approach to the Global Compacts ten principles and Sustainable Development Goals, an international standard for businesses to support people, communities and the planet.
Alan Talabani, managing director, Middle East, Turner & Townsend, said: These outstanding results reflect the strength of the market in the Middle East. Key projects such as Expo 2020 in Dubai are energising the real estate and infrastructure markets and the overall push to diversify economies away from a carbon base has enabled us to broaden our own project portfolio into new areas, including manufacturing.
To capitalise on this growth we have started work to open a new office in the Kingdom of Saudi Arabia, whilst also investing in our digital capability through tools including BIM to deliver better outcomes for our clients. Our regional successes have contributed to exceptional country-wide results for our global business over the last twelve months, making us well-placed to pursue our goal to be the worlds leading independent professional service provider within capital programmes by 2020.